§ 4501. — Restitutionary amounts covered.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC4501]
TITLE 15--COMMERCE AND TRADE
CHAPTER 71--PETROLEUM OVERCHARGE DISTRIBUTION AND RESTITUTION
Sec. 4501. Restitutionary amounts covered
(a) In general
This chapter (other than section 4504 of this title)--
(1) specifies the procedure for the disbursement of funds
collected, including interest thereon, by the Secretary or the
courts pursuant to the Emergency Petroleum Allocation Act of 1973
[15 U.S.C. 751 et seq.] or the Economic Stabilization Act of 1970
(and the regulations issued thereunder) as restitution for actual or
alleged violations of such Acts or regulations; and
(2) subject to subsection (c) of this section, applies to--
(A) any amount of such funds held in escrow by the Secretary
through accounts administered by the Secretary of the Treasury
on or after October 21, 1986; and
(B) any amount of such funds determined at any time,
pursuant to judicial or administrative proceedings (including
any settlement agreement or declaratory judgment) instituted by
the Secretary to enforce such Acts and regulations, to be
amounts paid for such actual or alleged violations, including
any such amounts held in escrow by any court.
(b) Special rule
Amounts described in subsection (a)(2) of this section and held in
an escrow account by a court before October 21, 1986, may continue to be
held by such court but shall be disbursed, together with any interest
thereon, by the Secretary or, as appropriate, by the court only in
accordance with the provisions of this chapter.
(c) Exclusions
Subsection (a)(2) of this section does not apply to--
(1) any amount actually disbursed before October 21, 1986, to
any person or class of persons pursuant to section 155 of Public Law
97-377 or any final judicial or administrative order or judgment
(including any settlement agreement or declaratory judgment);
(2) any amount to which any person or class of persons has an
enforceable right, created or vested, or governed by the terms and
conditions of the settlement approved on July 7, 1986, in In Re: the
Department of Energy Stripper Well Exemption Litigation, M.D.L. No.
378, in the United States District Court for the District of Kansas;
and
(3) any amount designated by judicial or administrative order or
judgment (including any settlement agreement or declaratory
judgment) for disbursement at any time to any specific person or
class of persons--
(A) identified in such order or judgment as injured by the
violation or alleged violation of the Acts described in
subsection (a)(1) of this section (including the regulations
thereunder); or
(B) identified in such order or judgment issued before
October 21, 1986, for indirect restitution.
(d) Escrow accounts
Subject to subsections (b) and (c) of this section, the amounts
covered by subsection (a) of this section shall be held in appropriate
escrow accounts administered for the Secretary by the Secretary of the
Treasury.
(e) Interest
Consistent with the disbursement requirements of this chapter, the
Secretary of the Treasury shall provide that amounts described in
subsection (a) of this section shall earn interest at the maximum rate
earned on investments of Federal trust funds by the Secretary of the
Treasury in short-term and long-term securities issued by the Federal
Government (including minority bank investments).
(Pub. L. 99-509, title III, Sec. 3002, Oct. 21, 1986, 100 Stat. 1881.)
References in Text
The Emergency Petroleum Allocation Act of 1973, referred to in
subsec. (a)(1), is Pub. L. 93-159, Nov. 27, 1973, 87 Stat. 628, as
amended, which was classified generally to chapter 16A (Sec. 751 et
seq.) of this title, was omitted from the Code pursuant to section 760g
of this title, which provided for the expiration of the President's
authority under that chapter on Sept. 30, 1981.
The Economic Stabilization Act of 1970, referred to in subsec.
(a)(1), is title II of Pub. L. 91-379, Aug. 15, 1970, 84 Stat. 799, as
amended, formerly set out as an Economic Stabilization Provisions note
under section 1904 of Title 12, Banks and Banking.
Section 155 of Public Law 97-377, referred to in subsec. (c)(1), is
section 155 of Pub. L. 97-377, title I, Dec. 21, 1982, 96 Stat. 1919,
which is not classified to the Code.
Short Title
Section 3001 of Pub. L. 99-509 provided that: ``This subtitle
[subtitle A (Secs. 3001-3008) of title III of Pub. L. 99-509, enacting
this chapter] may be cited as the `Petroleum Overcharge Distribution and
Restitution Act of 1986'.''
Section Referred to in Other Sections
This section is referred to in sections 4502, 4505, 4506 of this
title.
